Australian market set to open flat

THE Australian market looks set to open flat after international markets lost ground as investors retreated in the face of concerns about Ukraine, the Chinese economy and falling copper prices.

At 0645 AEDT on Thursday, the March share price index futures contract was down four points at 5,369.

Analysts said falling copper prices had continued the pressure after weak economic data from China.

Copper on Tuesday fell 2.6 per cent.

The fall came a few days after China data showed that the world's second-biggest economy expanded 7.7 per cent last year, the same as in 2012, and the slowest since 1999's 7.6 per cent. It's inflation rate dropped to 2.0 per cent.

It also recorded an unexpected trade deficit of $US22.98 billion ($A25.50 billion) in February, compared to analysts' expectations of a $US11.9 billion surplus.